VISHEE(688580)2024-11-29 09:19Company Overview - VISHEE Medical, established in 2001, is a high-tech medical device company headquartered in Nanjing, recognized as a national high-tech enterprise and listed on the Sci-Tech Innovation Board [1] - The company specializes in rehabilitation medicine, offering high-quality products and solutions in areas such as pelvic and postpartum rehabilitation, mental health rehabilitation, neurological rehabilitation, and pediatric rehabilitation [1] Financial Performance - For the first three quarters of 2024, the company reported total revenue of CNY 292 million, a year-on-year decrease of 12.06% [4] - The net profit attributable to shareholders was CNY 78.17 million, down 23.13% year-on-year [4] - After excluding stock payment and income tax impacts, the adjusted net profit was CNY 87.63 million, reflecting a decline of 20.92% compared to the previous year [4] Product Development and Market Position - The company has successfully developed and certified new products, including the MagNeuro ONE series of transcranial magnetic stimulators and various laser devices, enhancing its product matrix [4] - The high-frequency electrosurgical devices and shaping magnetic products have seen positive sales feedback in maternal and aesthetic markets, contributing to business transformation [4] - The mental health division continues to grow, establishing a mature treatment solution for physical therapy in mental health, solidifying its market leadership [4] Strategic Focus and Future Outlook - The company aims to adopt a pragmatic and long-term approach to R&D investments, focusing on risk control and organizational improvements to enhance performance [4] - Plans to expand into the silver economy sector with a diverse range of rehabilitation products targeting elderly patients, including cognitive function treatment software and rehabilitation robots [11] - The company anticipates that upcoming policies encouraging medical equipment updates will gradually stimulate demand, with expected performance improvements reflected in Q4 2024 and throughout 2025 [11] Technology and Innovation - VISHEE Medical has established six major technology platforms, including magnetic stimulation, electrical stimulation, and laser technologies, supporting a wide range of rehabilitation applications [9] - The newly certified ultra-pico laser device is the first of its kind in China, validated through extensive clinical trials, positioning the company competitively in the skin treatment market [8] Shareholder Engagement - The company has conducted share buybacks in 2022 and 2023, primarily for employee stock incentives, and is considering future buyback plans based on market conditions [15][16]